244 & 248 Court Street

EXECUTIVE SUMMARY

Daniel Gale Sotheby’s International Realty is pleased to present the exclusive sale of 244 & 248 Court Street, a prime investment opportunity in the heart of Brownstone Brooklyn

These two landmark-district buildings offer exceptional visibility and high foot traffic, making them a standout in this vibrant commercial and residential neighborhood

248 Court Street/253 Kane Street is home to Nabila’s, an upscale Lebanese restaurant that recently underwent a full renovation With a secure lease in place, this commercial space is thriving

The residential entrance, located around the corner at 253 Kane Street, adds to the property’s appeal Kane Street, known for its historic brownstone charm, is a highly desirable address The residential portion consists of six rent-stabilized apartments, including five one-bedroom units and one two-bedroom unit.

244-246 Court Street has been leased to Ridgewood Savings Bank for over 20 years This longstanding tenancy provides a stable income stream

Above the commercial space, the property includes two fully renovated residential units:

A two-bedroom plus den apartment

A one-bedroom apartment

Both units are currently leased, adding to the investment’s immediate returns.

Investment Highlights

Together, these two properties span over 10,000 square feet, featuring:

Two ground-level commercial spaces

Eight residential units (2 Totally Free Market Renovated Apartments, 6 Rent Stabilized Units)

Two full dry basements with good ceiling height

This rare opportunity offers strong current income and significant long-term growth potential a true gem in Brownstone Brooklyn

Asking Price: $7,995,000

PROPERTY FACTS:

244 COURT STREET

*Not included in sq ft is the full dry basement mechanical and electrical equipment and storage Please note – the retail street level can be subdivided with two operating entrances. Sale Type- End User, Investment, 1031 Exchange

Sale Type Investment - 1031 Exchange

Property Type Retail / Residential/Full Basement

Building Size 5,105 Gross SF + Additional FAR

Block/lot

One – 1 bedroom/1 bath apartment – approx 700 sq ft

One – 2 bedroom/1 bath apartment – approx. 1,250 sq. ft.

Retail unit/Street level – approx. 3,100 sq. ft + HUGE Basement – has two address and can easily be subdivided

Residential units had full renovation, with leases in place

Recent major capital improvements to building

244-246 COURT STREET, COBBLE HILL, BROOKLYN

244-246 COURT STREET, #2R

244-246 COURT STREET, #2L

244 Court St, Unit 2L, Brooklyn

2 Bed 2 Bath

244 Court St, Unit 2R, Brooklyn

1 Bed 1 Bath

PROPERTY FACTS:

248 COURT STREET/253 KANE STREET

Sale Type

Property Type

Building Size

Investment - 1031 Exchange

Retail / Residential/Full Basement

5200 Gross SF

Block/lot 00312-0036

Building Class S5 – Primarily 5 & 6 family/Retail 1

Year Built 1901

Building Dimensions 20 ft x78 ft

Stories 4

Percent Leased 100%

Tenancy

Six Rent Stabilized Units – Retail 1 1 unit delivered vacant

Five - 1 bedroom/1 bath apartments - approx 600 sq ft (3R to be Vacant)

One - 2 bedroom/1 bath apartment - approx. 900 sq. ft.

Retail unit / Street level with outdoor dining - approx. 1,400 sq. ft.

Not included in sq ft is the basement and outside dining

Interior of the commercial space is at ground level with front entrance and side entrance

Residential units have private entrance at 253 Kane Street An extensive renovation to commercial space, with current restaurant lease in place. A full cellar (that is not included in the GROSS Sq. ft.) with mechanicals, utility area, appliances, two restrooms, office, etc.; accessible by full interior staircase and a service entrance with full stairs leading to the basement